Singapore and the Pacific Alliance (PA) have concluded negotiations on a free trade agreement, towards the signing of the deal in late 2021, the Singaporean Ministry of Trade and Industry announced on July 22.
In 2019, Singapore's total trade in goods with the Pacific Alliance was 6.1 billion USD, or around a third of its total trade in goods with Latin America. (Source: Straitstimes)
Singapore (VNA) – Singapore and the Pacific Alliance (PA) haveconcluded negotiations on a free trade agreement, towards the signing of thedeal in late 2021, the Singaporean Ministry of Trade and Industry announced onJuly 22.
The Pacific Alliance, which comprises four Latin Americannations of Chile, Colombia, Mexico and Peru, is the eighth-largest exporter inthe world, with a combined population of 230 million, a per capita grossdomestic product of 19,000 USD and annual exports totalling 627 billion USD.
It is also the eighth-largest economy worldwide, attracting56 million tourists, making up 41 percent of the GDP of Latin America andthe Caribbean, and accounting for 38 percent of its foreign direct investment.
In 2019, Singapore's total trade in goods with the PA was 6.1 billion USD, or around a third of its total trade in goods with LatinAmerica.
Minister of Trade and Industry Gan Kim Yong said the PacificAlliance-Singapore Free Trade Agreement (PASFTA) complements Singapore’s existing bilateraland multilateral links with each PA country, including the Trans-PacificStrategic Economic Partnership Agreement, the Peru-Singapore FTA, and theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The Ministry of Trade and Industry said that Singapore will continue working withthe alliance to officially sign the deal at the PA Summit in December inColombia./.
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In 2019, Singapore's total trade in goods with the Pacific Alliance was 6.1 billion USD, or around a third of its total trade in goods with Latin America. (Source: Straitstimes) 
